The retail marketing landscape is changing continuously and fast. A recent study from the Harris Group shows that over 72% of the millennial buyers like to invest or spend on experiences rather than commodities. It is no wonder that most retail companies are shifting towards serving an experienced-based opportunity to their audiences instead of product-focused marketing stints. In short, the old-school hacks of season’s sales, discounts, BOGO offers and free gifts are not as effective as they used to be. The target audience in New York needs something more that can create memories.
How has retail marketing changed with the advent of engagement marketing?
Today, retailers in New York are seeking every opportunity to engage existing consumers and potential customers to establish new connections and boost their sales. While increasing sales is the ultimate goal of every marketing campaign, the primary goal of an event-based marketing campaign is to build real connections with the target audience. The latest marketing campaigns show an incredible reliance on activities or messages that evoke emotional responses from the target audience. Research shows that consumers pledge their loyalty to brands that have a human face. It has become essential for brand managers and entrepreneurs to establish an emotional connect with their audience before they can think about boosting sales and profits.
The idea behind experiential marketing is quite simple – what is the difference between watching the video of your favorite band in action and watching them live in Madison Square Garden? Why the experience, of course! The power of experience makes the memories long-lasting, emotion-evoking, and almost permanent for every viewer. No matter how many days go by, you will always remember both the band and the location with a sense of awe and fondness. Now, think about a brand that co-sponsored the event in New York City! An energy drink or a graphic design company that made its presence quite prominent in the festival grounds. From the very next day, the moment you look at the images or videos or reminisce about your favorite track, you are also likely to think about the logo or name of the associated brands, albeit subconsciously. That is one of the perks of event-based marketing. Something as simple as sponsoring an event can find them a permanent place in the minds of millions!
What are the traits of a branded experience?
A branded experience for every participant should possess a few elements. Here’s what your engagement marketing campaign in NY should have –
- The active participation from the target audience
- The promotion of brand values and messages
- The preservation of long-lasting impact among the audience
To promote a brand’s values and messages, the entrepreneur or brand manager has several options including organizing workshops and classes, setting up pop-up experiences, showcases of products and services, mobile truck tours, shipment container stores, single-person experiences, direct mails, and POS experiences. The best experiential marketing campaigns across the world have always paid attention to the trackability of sales and consumer engagement metrics. Before you can begin planning your event, you should ensure that your event marketing partner offers the best opportunities to track the event’s metrics including footfall, subscription rates, new signups, repeat visits, and on-spot sales. Visit the best experiential marketing agency New York to learn more about engagement marketing opportunities for your brand and products.
What should the aim of any experiential marketing campaign be?
No matter which sector or service you are thinking about, engagement marketing is all about establishing meaningful connections between the brand and its consumers. Engagement marketing campaigns aim to encourage consumers to engage with the core values and the identity of a brand. Customers get the opportunity to interact with the brand and build meaningful relationships with it. According to millennial respondents from NYC, they value experiences more than owning things, receiving free gifts and discounts. More than 65% of the US brands that have invested in experiential marketing in the last five years have reported that their experiential marketing efforts have directly contributed to sales.
In addition to boosting sales and quarterly profits, experiential marketing offers every brand the chance to increase awareness. Brand awareness is critical in the days of infobesity, where there is too much information per person. When the potential consumer interacts with the brand directly, he or she can form opinions about the brand from the first-person experience. The exposure is vital if the brands want to convert their audience into dedicated brand ambassadors and enthusiastic proponents of the brand and its products.
The most successful experiential marketing campaigns have one thing in common – none of them tried to push their products or services during these events. They focused on building real and lasting relationships that would ultimately contribute to higher sales and profit.
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